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Privatisation revenues at PLN 8.9bn in January-November


2012-12-05



In the 11 months of 2012 revenues from privatisation amounted to PLN 8.86bn (approx. €2.1bn), according to the Ministry of the Treasury. The figure represents 89% of the annual plan of PLN 10bn (€2.4bn).

The latest major privatisation was the 30 October initial public offering of ZE PAK, a power group. The state sold its 50% stake in the company for over PLN 680m (€162m).

Meanwhile, on 4 December the Treasury unveiled a draft legislative proposal designed to speed up and reduce the costs of the privatisation process of smaller, troubled companies in urgent need of an investor. It allows the ministry to reduce the asking price for an unsold company to 70% of the previous price at each new auction, and cuts to 14 days from 30 the minimum period that must be given for the submission of bids.



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